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Mild steel is not an alloy steel, so it does not contain significant quantities of other elements except iron. The Mild Steel Wire formed using mild steel is more ductile, machinable, and weldable than high carbon and other steel wires. During heating and quenching, it is almost unlikely to harden and strengthen this wire. It is also magnetic due to high levels of iron and ferrite. Furthermore, Mild Steel Wire is less expensive than other steel wires.